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president obama and they compare president clinton. and the suggestion is that president obama has not been able to lead the same way, not been able to cross the aisle. do you think that's right? >> i think that president clinton was effective in crossing the aisle. and i think president obama would have been every bit as effective, but i think he faced a very different political situation. by the time you got from the '90s when we were there to the present time the polarization had hardened very substantially and i think had president obama faced the same political situation that president clinton had it would have been very difficult, just as it was very difficult for president clinton, but i think obama in a different style, in his own way, would have been equally effective working with the opposition. >> we have lots of ceos who came on the set before the election who said that president obama was not pro-business. he was not pro-growth. he was not -- you've heard it. you've heard it a lot. do you believe that? having lived in washington. what's your take on that issue? >> my take is as
. very frankly, when we had the clinton rates in place, which were not close to at this point in time, we had the best economy that you and i have seen in our lifetimes, frankly, in the 1990s. there were a lot of factors surrounding that. particularly the i.t. explosion. >> right. >> the information technology explosion was the driver of that. but the tax policies that were in place did not tamp that down. and, in fact, the fiscal stability, the fact that we had a balanced budget for four years during the clinton administration gave confidence to the investing community that their investments would not be eaten up by inflation, or by government policies. so, no, i'm not worried about that. what we do need, however, is a balanced package, over ten years, big, bold, balanced package. i think that will give extraordinary confidence to the marketplace, and will grow our economy, irrespective of the taxes. now when i say that i want to make it clear i don't mean that we can have tax levels so high that we undermind incentives but we're nowhere close to that. >> representative hoyer, didn't the
bill clinton's economy you've got to pay bill clinton's taxes. >> so why aren't republicans really, if they like tax cuts, if they like tax cuts, they got a huge amount that's not going to come out of the private economy and go to the government. they should be happy. >> i have said many times that republicans won the fight in january they just don't know it. and nobody -- washington is upside down. it's -- >> certainly is if we agree. >> well, but the -- they think that common political wisdom inside washington is that the president won and the republicans lost. the fact is, the republicans won an enormous victory. they stabilized taxes for middle class people at the bush tax rates for everybody below $400,000. and they took all that revenue off the table and we can't use it to balance the budget. the cults are going to have to be much deeper if you're ever going to get anywhere towards fiscal stability? >> does the market believe we're going over the sequester cliff? >> and does it care? >> does it matter? >> all of the above, i think, in some respects. i actually think -- i agre
secretary under president clinton. let's talk with buzz words we hear again and again, a balanced approach to balance and spend. people have their own views what balanced and fair means. you spend time talking to people inside the white house. what does that mean in practice? >> you go back over the past year, the word balance has really meant what is the long way to get long term fiscal debt reduction and fiscal responsibility between revenue and spending cuts. i think today that discussion of balance has actually migrated to one of also timing, the idea of what is good for the short term to get the recovery on track versus what is good for the long term, in terms of getting obviously debt to gdp to a manageable level. from my perspective, a balance today says recognizing that government has an important part, in terms of the short term keeping the recovery going. you saw last quarter, gdp flat. why? the biggest component of that, government spending, down a point and half. >> why don't we see then the obama administration take an approach, we're not going to do anything this second, 10 y
, you probably remember when clinton gave the state of the union in 1998. he said the economy's very strong. this is a strong statement. the market was up a point the next day. but this was really nothing in there that is new news or is market-moving news. if you kind of go through the topics he's covered in the sectors they would affect, the minimum wage, you would think maybe walmart or mcdonald's might trade down because of the news. i think everyone expects that the republicans will block it. they'll discuss it, it -- you know, it was just kind of thrown out there. >> to me that may be the bigger issue. we've been living in this -- the past couple of months have been, feels goldilocks, right? despite we've had some things come off here and there. but a little goldilocks. that's in part, i think, a function of the fact that we haven't been talking about politics. if feels like politics is off the table. the question is, when you hear a speech like that, do you think to yourself, washington has more gridlock than ever, that people are going to come together, i mean, then -- and i p
, which was a bipartisan george bush the first, newt gingrich and bill clinton adopted, and then it was dropped. as you know, in 2001. and we didn't have a pay as you go policy, and what happened? we blew a hole in the deficit, added $5 trillion to the deficit. and we took a surplus into deep debt. we got to stop that you're absolutely right. >> doubling down. >> yes. >> i saw glimmers of hope with the terrapins. i don't know. >> there are glimmers of hope and they did pretty well from time to time. saturday, as you saw, joe, was not a good game for us. we didn't play our a game. but when we play our "a" game we got a lot of freshmen, sophomore -- dominant center right now. but he's going to be. and we're going to have a very, very good team as time goes by. but they had a bad game on saturday but they had a good game away at virginia tech before that. so, i'm very hopeful that they're going to do well coming forward, and next year. >> any progress on -- do i need to raise some money for the steny hoyer statute? the boomer esiason statue at -- on the campus. and i said
was at hillary clinton's house, you saw just last month. no, i wasn't there. i thought it was a story about power and the return to power, and in a city where people drop people at a whiff of trouble -- >> the mayor never dropped him. >> i think many of his friends never dropped him. i thought it was an interesting sort of look at both steve and new york. >> what he was accused of, what we're talking about here, i'm shocked. that louis renault at its best, isn't it? like that was never done before? >> it was done, by the way, not just done for his case, but carlisle and about nine other -- >> don't show langone. so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for... them. so them are here. yes! you want to run through it again? no, i'm good. you got it? yes. rates for us and them -- now that's progressive. call or click today. we all work remotely so this is a big deal, our first full team gathering! i wante
, instead of trying to get together the way reagan did with tip o'neill, or clinton did with republican congress, there's just too much animosity. it should be time for compromise. just the administration's that i alouded to before. >> so if that's the situation and you're worried about where we're headed, you're thinking the economy is at stall speed how do you set irportfolio up? are there stocks in particular that you would avoid? >> well, at this point you'd have to avoid the defense stocks because obviously the across-the-board sequestration is not going to be good for the lockheed, general dynamics or northrops of the world. you have to avoid them because the earning power could drop substantially. a couple of stocks i am going to represent this morning are defensive in character. the first one is cvs caremark. the company is selling at about 12.9 times expected earnings. they should earn $3.95 to $4 this year. the top line growth is only 2% or 3% but similar to what happened with mckesson which i recommended the last time is the gross margin dollars not the revenues that are impo
Search Results 0 to 7 of about 8